What Coverage is Needed for Specialty Contractors?

Specialty contractors, such as electricians, plumbers and HVAC technicians, play a crucial role in the construction industry by providing specific, skilled services. Given the unique risks associated with their work, having the right insurance coverage is essential to financially protect their business and help ensure smooth operations.

Insurance for Specialty Contractors

The following are the coverage considerations for specialty contractors:

• General liability insurance—This is the cornerstone of any contractors insurance plan. It can help financially protect against third-party claims of bodily injury, property damage and personal injury that may occur on the job site. For example, if a client or passerby is injured due to the contractor’s work, general liability insurance may help cover legal fees and medical expenses.

• Workers’ compensation insurance—This coverage is required in most states and offers benefits to employees who experience work-related injuries or illnesses. It can assist with medical expenses, rehabilitation costs and a portion of lost wages. This insurance can also shield the business from potential lawsuits.

• Commercial auto insurance—Specialty contractors often rely on vehicles to transport tools and materials. Commercial auto insurance can offer financial protection for vehicles used in business activities, helping to cover accidents, theft and damage. It can help ensure that both the vehicle and the equipment inside are financially covered.

• Equipment and tools coverage—Tools and equipment are vital for specialty contractors. This coverage may be able to help after theft, damage or loss of essential tools and equipment, helping the contractor continue working without significant financial setbacks.

• Professional liability insurance—This can offer financial protection against claims of negligence, mistakes or omissions in a contractor’s professional services. This coverage is especially crucial for contractors involved in design or consulting work.

• Pollution liability insurance—For contractors involved in activities that could lead to environmental damage, such as asbestos removal or chemical handling, pollution liability insurance is crucial. It can help cover the costs associated with pollution cleanup and third-party claims for environmental damage.

Learn More

For insurance near you, contact Blackburn Insurance Agency, Inc. today.

This blog is intended for informational and educational use only. It is not exhaustive and should not be construed as legal advice. Please contact your insurance professional for further information.